v3.25.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Statement of Cash Flows [Abstract]    
Net loss $ (47,176) $ (21,747)
Adjustment to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 103 81
Amortization of intangible assets 206 431
Amortization of right-of-use asset 100 177
Non-cash interest expense, net of interest income 145 267
Stock-based compensation 7,527 3,844
Impairment of goodwill 4,049
Impairment of intangible assets 631
Change in fair value of convertible notes payable (12,882)
Loss on extinguishment of debt 421 6,732
Warrant issuance expense 6,580
Change in fair value of warrant liability 3,280 281
Change in value of warrant asset 24
Unrealized gain on foreign currency transactions (2) (123)
Other 22 34
Changes in operating assets and liabilities:    
Accounts receivable and other receivables (1,293) (72)
Inventories 1,016 271
Prepaid expenses and other current assets 101 247
Other assets 287 32
Accounts payable (1,940) 2,514
Related party payables (51)
Accrued expenses and other current liabilities (4,667) 5,708
Accrued interest 67 154
Deferred revenue 336 (115)
Operating lease obligation (98) (163)
Net Cash Used in Operating Activities (30,356) (14,305)
Cash Flows (Used in) Provided by Investing Activities    
Purchase of property and equipment (126) (54)
Cash received in purchase of Inpixon 2,968
Purchase of intangible asset (39)
Net Cash (Used in) Provided by Investing Activities (126) 2,875
Cash Provided by Financing Activities    
Net proceeds from sale of common stock and pre-funded warrants via public offerings 57,051
Net proceeds from ATM stock offering 1,667 9,582
Net proceeds from the exercise of equity classified warrants 2
Net proceeds from the exercise of liability classified warrants 4,061
Net proceeds from promissory notes 2,000
Net proceeds from loan from Inpixon (prior to merger) 1,012
Redemption of Series 9 preferred stock (1,427)
Repayments of promissory notes (2,784) (668)
Net Cash Provided by Financing Activities 58,568 11,928
Effect of Foreign Exchange Rate on Changes on Cash 7 8
Net Increase in Cash and Cash Equivalents 28,093 506
Cash and Cash Equivalents - Beginning of period 4,105 5
Cash and Cash Equivalents - End of period 32,198 511
Cash paid for:    
Interest 282 54
Income Taxes 10 16
Non-cash investing and financing activities    
Common shares issued for conversion of debt and accrued interest 750 9,614
Common shares issued in exchange of warrants 1,698
Deemed dividend related to December 2023 warrant exchange 283
Common shares issued as settlement of accrued compensation 2,293
Common shares issued as prepayment for services 335
Common shares issued in exchange of series 9 preferred stock 4,625
Issuance of common shares for merger consideration, net of cash received 22,637
Right-of-use asset obtained in exchange for lease liability 394
Capital contribution - forgiveness of related party payable 380
Deemed dividend related to series 9 preferred stock exchange 231
ATM proceeds withheld as payment towards accounts payable 128
Series 9 preferred stock dividend accrued $ 496

Source

10-Q PDF
XBRL